KOEN DIERICKX: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
KOEN DIERICKX
Largest movements
- Receivables within one year +€200,854
up €200,854 (+501.5%), from €40,054 to €240,908
of which Other amounts receivable: +€206,897
- Cash -€88,494
down €88,494 (-35.4%), from €250,309 to €161,815
mainly Receivables within one year (-€200,854) and Debts after one year (-€38,719)
- Tangible fixed assets -€63,575
down €63,575 (-14.2%), from €448,344 to €384,769
of which Land and buildings: -€42,086
- Reserves +€100,509
up €100,509 (+9.8%), from €1.0m to €1.1m
of which Distributable reserves: +€100,509
- Debts after one year -€38,719
down €38,719 (-25.9%), from €149,568 to €110,849
- Tax, wage and social debts -€13,779
down €13,779 (-49.8%), from €27,642 to €13,863
of which Taxes: -€11,400
- Financial charges +€43,723
up €43,723 (+840.3%), from €5,203 to €48,926
- Gross operating margin +€19,109
up €19,109 (+6.0%), from €318,354 to €337,463
- Staff costs -€7,002
down €7,002 (-8.7%), from €80,113 to €73,111
- Other operating charges +€3,686
up €3,686 (+70.3%), from €5,240 to €8,927
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,331,486 | €1,377,745 | +€46,259 | +3.5% |
| Fixed assets | 21/28 | €448,465 | €384,891 | -€63,575 | -14.2% |
| Tangible fixed assets | 22/27 | €448,344 | €384,769 | -€63,575 | -14.2% |
| Land and buildings | 22 | €365,698 | €323,612 | -€42,086 | -11.5% |
| Plant, machinery and equipment | 23 | €29,515 | €20,791 | -€8,723 | -29.6% |
| Furniture and vehicles | 24 | €13,824 | €8,158 | -€5,665 | -41.0% |
| Leasing and similar rights | 25 | €18,655 | €11,555 | -€7,100 | -38.1% |
| Other tangible fixed assets | 26 | €20,653 | €20,653 | = | 0.0% |
| Financial fixed assets | 28 | €122 | €122 | = | 0.0% |
| Current assets | 29/58 | €883,021 | €992,854 | +€109,834 | +12.4% |
| Amounts receivable after more than one year | 29 | €375,000 | €375,000 | = | 0.0% |
| Other amounts receivable | 291 | €375,000 | €375,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €40,054 | €240,908 | +€200,854 | +501.5% |
| Trade receivables | 40 | €23,817 | €17,775 | -€6,042 | -25.4% |
| Other amounts receivable | 41 | €16,236 | €223,133 | +€206,897 | +1274.3% |
| Current investments | 50/53 | €199,289 | €199,986 | +€696 | +0.3% |
| Cash at bank and in hand | 54/58 | €250,309 | €161,815 | -€88,494 | -35.4% |
| Deferred charges and accrued income | 490/1 | €18,369 | €15,146 | -€3,223 | -17.5% |
| Total equity and liabilities | 10/49 | €1,331,486 | €1,377,745 | +€46,259 | +3.5% |
| Equity | 10/15 | €1,049,767 | €1,150,276 | +€100,509 | +9.6% |
| Contributions | 10/11 | €18,564 | €18,564 | = | 0.0% |
| Reserves | 13 | €1,029,252 | €1,129,761 | +€100,509 | +9.8% |
| Non-distributable reserves | 130/1 | €1,856 | €1,856 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,856 | €1,856 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €971,146 | €1,071,654 | +€100,509 | +10.3% |
| Profit (loss) carried forward | 14 | €1,951 | €1,951 | = | 0.0% |
| Amounts payable | 17/49 | €281,719 | €227,470 | -€54,250 | -19.3% |
| Amounts payable after more than one year | 17 | €149,568 | €110,849 | -€38,719 | -25.9% |
| Financial debts | 170/4 | €149,568 | €110,849 | -€38,719 | -25.9% |
| Amounts payable within one year | 42/48 | €124,906 | €109,375 | -€15,531 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €37,425 | €38,719 | +€1,293 | +3.5% |
| Financial debts | 43 | €20,597 | €18,864 | -€1,733 | -8.4% |
| Credit institutions | 430/8 | €20,597 | €18,864 | -€1,733 | -8.4% |
| Trade debts | 44 | €11,487 | €10,175 | -€1,312 | -11.4% |
| Suppliers | 440/4 | €11,487 | €10,175 | -€1,312 | -11.4% |
| Advances received on contracts in progress | 46 | €27,755 | €27,755 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €27,642 | €13,863 | -€13,779 | -49.8% |
| Taxes | 450/3 | €12,659 | €1,260 | -€11,400 | -90.1% |
| Remuneration and social security | 454/9 | €14,983 | €12,603 | -€2,380 | -15.9% |
| Accrued charges and deferred income | 492/3 | €7,245 | €7,245 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €80,113 | €73,111 | -€7,002 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,662 | €65,438 | +€1,776 | +2.8% |
| Other operating charges | 640/8 | €5,240 | €8,927 | +€3,686 | +70.3% |
| Gross operating margin | 9900 | €318,354 | €337,463 | +€19,109 | +6.0% |
| Operating profit (loss) | 9901 | €169,339 | €189,988 | +€20,649 | +12.2% |
| Financial income | 75/76B | €17,197 | €17,386 | +€189 | +1.1% |
| Recurring financial income | 75 | €17,197 | €17,386 | +€189 | +1.1% |
| Financial charges | 65/66B | €5,203 | €48,926 | +€43,723 | +840.3% |
| Recurring financial charges | 65 | €5,203 | €48,926 | +€43,723 | +840.3% |
| Profit (loss) for the period before taxes | 9903 | €181,332 | €158,447 | -€22,885 | -12.6% |
| Income taxes | 67/77 | €54,741 | €57,939 | +€3,197 | +5.8% |
| Profit (loss) for the period | 9904 | €126,591 | €100,509 | -€26,082 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €126,591 | €100,509 | -€26,082 | -20.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.